The SALT deduction allows taxpayers who itemize to deduct state and local taxes. What is the current cap on this deduction?

The Tax Cuts and Jobs Act of 2017 introduced a $10,000 cap ($5,000 for married filing separately) on the combined deduction for state income taxes, local income taxes, sales taxes, and property taxes. This cap particularly affected taxpayers in high-tax states like California, New York, New Jersey, and Illinois, where combined state income and property taxes frequently exceed the $10,000 limit. This cap is set to expire after 2025, and its fate depends on Congressional action — it has been a major point of debate in tax legislation discussions for the next tax framework.